China’s export container shipping index edged up in May, data from the Shanghai Shipping Exchange showed.
The average China Containerized Freight Index (CCFI) stood at 952.11 in the period, up 0.4 percent month on month, according to the exchange. The sub-reading for the South America service led the expansion with a month-on-month jump of 16.8 percent. This growth was followed by that of the Persian Gulf/Red Sea service, which rose 8.5 percent from the previous month.
The CCFI tracks spot and contractual freight rates from Chinese container ports for 12 shipping routes across the globe, based on data from 22 international carriers. The index was set at 1,000 on Jan. 1, 1998.
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